Your business is like no other. You have plans do be bigger and better than your competition, right? So why settle for a cookie-cutter marketing campaign?
When we write marketing plans in the fall for our clients for the coming year, several factors go into the analysis to determine the best course of action. Our customized marketing plans are written to your specifics. Here are some of our tips to ensure your marketing plan is tailored for your company.
- Competitive analysis – Who are your top 5-8 competitors? What are their strengths and weaknesses compared to your company? Their biggest weakness is your biggest strength, so capitalize on that. Conversely, what is their biggest strength? It’s your biggest weakness and something you may need to focus own in the coming year.
2. Buyer persona– Who is your target market? You should create 3-5 personas based on the demographics and buying habits of your different types of customers. A stay at home mommy may have completely different wants and needs than a business executive, but they may both be customers of yours. Knowing them and how to best communicate with them is crucial to developing your marketing strategy.
3. Goals and objectives – Your goals must be crystal clear, and knowing the benchmarks to reach them are part of the equation. Where are you today? Where do you want to be in 1 year? 5 years? If your goal was to lose 10 pounds, it would be important to know what your current weight is, right?
When writing down my goals, I make sure they are S.M.A.R.T.
S- are your goals Specific? Thoroughly explain what you want to accomplish and how you plan to accomplish it.
M – are your goals Measurable? If your goal is to grow profits or cut costs, then by how much? Assign a number or percentage value to it.
A – are your goals attainable? Is this a goal that is within your reach?
R – are they realistic for what you want to achieve or are they “pie in the sky” dreams?
T – are your goals timely? Assign a deadline and even benchmarks along the way to help you hit smaller goals. Break down your goals into action steps daily, weekly and monthly necessary to reach the big annual goal.
Having this information is critical to creating a customized marketing plan. Now you can write specific action plans to reach each customer segment, how much to budget for each segment based on ROI history and percentage of business from each segment, and timetables to accomplish each action step.
Ben Franklin said “If you fail to plan, then plan to fail.” By not having a marketing plan, or are flying blindly and you will end up spending more of your marketing budget than if you’re strategic and intentional with your plans.
If you are serious about growing your business in 2014, them be proactive rather than reactive and create a customized marketing plan for you business. For assistance with writing a workable document, at BG Marketing we can help you with your marketing plan templates or by writing a plan with you.